President John Dramani Mahama has extended a warm invitation to the local and international business community to invest in Ghana, promising to create a conducive environment for economic growth. Speaking at his inauguration in Accra on January 7, 2025, President Mahama highlighted his administration’s commitment to revitalizing the economy through strategic reforms, transparency, and fairness.
A Vision for a Business-Friendly Ghana
Addressing a diverse audience of dignitaries, stakeholders, and entrepreneurs, President Mahama declared Ghana’s readiness to reclaim its position as a business-friendly destination in Africa. He assured the business community of policies aimed at fostering stability and predictability in economic governance.
“To the business leaders and entrepreneurs, I invite you to support this new model and join me in shaping a business environment where utility thrives, and the fruits of your investments contribute to the collective welfare of our nation. Your innovation and dedication will be the backbone of our success story,” the President remarked.
The administration’s goal is to make Ghana an attractive hub for local and foreign investments, leveraging private-sector growth as a driver for national development. 
Tax Rationalization to Support Growth
President Mahama announced plans to overhaul the tax system, emphasizing fairness and transparency. He assured stakeholders that the revised tax regime would reduce inefficiencies and provide businesses with a predictable framework to operate successfully.
“I pledge to you that we will look at the tax regime and rationalize it so that it is more transparent and fair. Members of the business community, I assure you that Ghana is open for business again,” he stated.
This commitment aligns with his broader economic strategy to create an enabling environment for businesses, particularly small and medium enterprises (SMEs), to thrive.
Revitalizing Ghana’s Economy
The promise to rationalize taxes comes against the backdrop of economic challenges that have strained businesses over the past years. Mahama’s administration aims to rebuild investor confidence through the following measures:
- Predictable Policies: Establishing consistent economic policies to enhance long-term planning for investors.
- Reduced Bureaucracy: Streamlining business registration and operational processes to remove bottlenecks.
- Infrastructure Development: Investing in transport, energy, and digital infrastructure to support businesses.
- Public-Private Partnerships (PPPs): Encouraging collaborations between the government and private sector to drive innovation and growth.
A Commitment to Collective Prosperity
President Mahama reiterated that businesses would play a critical role in Ghana’s economic recovery. He urged entrepreneurs to seize the opportunity to contribute to the country’s development.
“We will create an economy where businesses are not only profitable but also contribute to the collective prosperity of our people. Together, we can build an inclusive economy that works for everyone,” he emphasized.
Looking Ahead
Through strategic reforms, tax rationalization, and a renewed commitment to fostering private-sector growth, President Mahama aims to position Ghana as a competitive player in the global economy. His inauguration speech serves as a call to action for businesses and investors to participate in this transformative journey.
As Ghana enters this new era of leadership, the business community is optimistic about the opportunities that lie ahead, driven by a vision of stability, transparency, and shared growth.
